Universal Stainless & Alloy Pr Stock Price, News & Analysis

Universal Stainless & Alloy Products reported a liquid metal spill at its Bridgeville facility, caused by a furnace breakthrough. Fortunately, no injuries or environmental impact occurred. Cleanup and damage assessment are currently ongoing, with operations expected to resume in 6 to 8 weeks, pending parts availability. Despite this incident, all other production units are operational, and there are no anticipated disruptions to product delivery schedules. The company emphasizes a strong order backlog and commitment to its customers’ needs.

Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) has appointed Steven V. DiTommaso as Vice President and Chief Financial Officer, effective April 1, 2022. DiTommaso, previously the Corporate Controller since 2018, has extensive experience in financial management and operations. Chairman Denny Oates praised DiTommaso's capabilities in financial reporting and cash management, highlighting the company's robust order backlog and new product introductions as indicators of growth potential. Universal Stainless manufactures specialty steels for various industries, including aerospace and energy.

Universal Stainless & Alloy Products (Nasdaq: USAP) has announced a 7% to 12% price increase on plate products, effective immediately for new orders. This adjustment is a response to ongoing inflationary pressures affecting various business areas. Executive VP Chris Zimmer emphasized the need to manage increased costs while maintaining high customer service and product quality. Current material and energy surcharges will persist. The company specializes in manufacturing semi-finished and finished specialty steels used in sectors like aerospace, power generation, and heavy equipment.

Universal Stainless & Alloy Products (Nasdaq: USAP) announced a price increase of 3% to 10% on bar products, effective immediately for new orders. This decision is driven by significant inflationary cost increases impacting various business areas. The company will maintain current material and energy surcharges.

Executive VP Chris Zimmer emphasized the importance of adjusting prices to manage these costs while ensuring high customer service and production quality standards.

Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) has announced an increase in its nickel premium for raw material surcharges. Effective May, the nickel premium for AOD grades will rise from $0.38/lb to $1.70/lb, and for VIM grades, from $0.38/lb to $2.70/lb. The increase is attributed to heightened nickel market prices due to sanctions on Russia and the growing demand from electric vehicle production. The company has secured agreements to ensure nickel availability for its operations.

Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced a base price increase of 3% to 10% on bar products effective immediately for all new orders. This decision comes in response to escalating material and energy costs, as noted by Executive VP Chris Zimmer, who emphasized the necessity of this adjustment to manage inflationary pressures while maintaining high customer service and product quality. Current material and energy surcharges will also remain unchanged.

Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) will present at the Cowen and Company 43rd Annual Aerospace/Defense & Industrials Virtual Conference on February 9, from 8:30 to 9:10 AM (Eastern). Dennis M. Oates, Chairman and CEO, will lead the presentation, which will be available via live webcast and archived for future access. The company's products, including specialty steels used in various industries, are detailed further on their website. A replay will be accessible approximately three hours after the event for 90 days.

Universal Stainless & Alloy Products (Nasdaq: USAP) reported Q4 2021 sales of $43.2 million, reflecting a 38% increase year-over-year and a 16.3% sequential growth. The gross margin improved to 8.7% from 6.2% in Q3 2021, marking the highest since Q4 2019. Despite a net loss of $1.6 million or $0.18 per diluted share, record backlog reached $134.5 million, up 7.5% from the previous quarter. The company is expanding capacity by acquiring two additional Vacuum-Arc Remelt furnaces to support growth, particularly in the aerospace sector.

Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) will report its financial results for Q4 and full year 2021 on January 26, 2022. A conference call will be hosted at 10:00 a.m. Eastern on the same day, available to listen via telephone at 706-679-0668 with passcode 3819539. The call will also be webcast live on the company's official website, with an archive accessible until the end of Q1 2022. The company specializes in the manufacture of semi-finished and finished specialty steels used across various industries.